The number of property sales in Cyprus continued their upward trend in November with sales rising by 46 per cent compared to November 2015 according to official figures from the Department of Lands and Surveys.

The number of property sales in Cyprus continued their upward trend in October with sales rising by 37 per cent compared to October 2015 according to official figures from the Department of Lands and Surveys.

The Government of Cyprus has reduced the minimum amount of investment in real estate to obtain the citizenship of the country from 2.5 million to 2 million euros. New rules for obtaining Cypriot citizenship through investment will come into force November 1, 2016.

High demand for Cyprus housing stimulates the growth of the construction sector. There are new projects that can meet the demand of buyers with different budgets, says an international professional organization portal Overseas Property Professional.

The Tax Department will start sending Immovable Property Tax demands today that will include significant discounts agreed by parliament earlier this year of 75 per cent if they settle their account by 31 October.

In July 2016, foreigners bought 191 real estate in Cyprus, according to the Land Department of the country. In general, the sale of real estate on the island this month increased significantly over the same period last year, but most of the transactions accounted for the locals. At the same ...